Life in Boston has it's frustrations, but it's perks make up for it. Being here has been a great experience for both of us. Harvard truly can be considered a "hub" of sorts for many of the interesting discussions, research and debate going on in the world.
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Though I experience this to a much lesser degree than Derrick, I have been able to sneak my way into a few of the "perks" Harvard has to offer. The most recent was an opportunity to listen to Muhammad Yunus, the "grandaddy" of the microlending movement.
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He started the Grameen Bank in Bangladesh in the '70's. The object of this particular bank was to give small-scale loans to those too poor to have any credit (i.e. the people who needed the loans the most). These people had virtually no hope to get out of their situation in life because as the old addage states, "it takes money to make money" (or start a business). Most banks thought Yunus was nuts, but he has proved to the world that the poorest people in the world are usually victims of circumstance (and loan sharks). In fact, instead of financial disaster, his bank has one of the most enviable payback rates in the entire world.
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Something interesting he also learned through opening the bank was that women are much more likely to start a successful small business with their loans and, subsequently, pay their loans back. As a result, his bank and many other microlending banks in the world focus on giving loans to women.
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A GREAT documentary on this unique movement, which originally interested me in Yunus and his work, can be found on KBYU.com and is called "Small Fortunes." It will list the viewing times available. It is fascinating to see how creative, simple and successful many of these small business can be; from just buying a cow to sell the milk, to buying a sewing machine to sew empty juice boxes togethether to make unique-looking purses. I HIGHLY recommend it to anyone who wants to find out more about this. Yunus has also authored several books and even signed my copy of "Banker to the Poor". :)
3 comments:
I'm glad you changed your major. It's so wonderfull that you're so enthusiastic about this! You're going to make the world a better place :) Edward and I saw a similar documentary on BYU tv; the women had to form groups of 5 to get a loan and it was amazing the return they got! Most of them quadrupled their income, even though their business endevours were such simple things. (Like buying chickens!) It is very true that most people are a product of their environment. Edward and I were talking about that yesterday, we've met some amazing young people who could do so much more in life if they only realized it!
Yeah! That's gotta be the same documentary I saw too. Wasn't it great? Thanks for being so supportive. I'm super excited, but I have SO much to learn and it's a bit scary.
I'm jealous that you got to met him! We studied him and his micro-loans in a sociology class. I was amazed how his little loans could improve people's lives so drastically. It was also interesting to see that women were the main recipients and ended up being the most responsible and successful. It goes to show that one person can make a difference!
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